Popular Apple device management software maker Jamf has shared that it needs to cut back on costs to start the year. The workforce reduction plan is set to lay off 6% of the company’s full-time employees.
On January 25, 2024, Jamf Holding Corp. (the “Company” or “Jamf”) announced a workforce reduction plan (the “Plan”) intended to reduce operating costs, improve operating margins, and continue advancing the Company’s ongoing commitment to profitable growth. The Plan is expected to impact approximately 6% of the Company’s full-time employees.
As for the cost for the company to execute the layoffs, Jamf projects it will spend between $6.6 and 8.2 million for severance, benefits, and other related expenses.
The Company expects that the majority of the charges will be incurred in the first quarter of 2024 and that the execution of the Plan will be substantially complete by the end of the second quarter of 2024. The Company intends to exclude the charges associated with the Plan from certain of its non-GAAP financial measures.
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